Petersen Service Center, Inc. Elevator & Rolling Stock Inventory Sealed Bid Auction

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Shanon Singleton
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1 Petersen Service Center, Inc. Elevator & Rolling Stock Inventory Sealed Bid Auction Deadline: March 15, 2016 by 1:00 p.m. +/ acres in Cedar Mills, MN CSAH 26, Cedar Mills, MN (Located 8 miles west of Hutchinson, MN on MN State Hwy 7) Inspection Date: Friday March 4th, 1:00-3:00 p.m.

General Informa on Petersen Service Center, Inc.

Located on Minnesota Highway 7, Petersen Service Center, Inc. has been a major business in the Cedar Mills area. This opera ng turn key business with personal in place consists of +/ 2.

The Petersen family has asked us to express their apprecia on to all of their customers and surrounding neighbors. is accep ng wri en bids on this business opportunity.

2 General Informa on Petersen Service Center, Inc. A er several decades of proud successful and profitable opera on, along with the un mely death of Ken Petersen, the Petersen family has decided to put the elevator business up for sale. Located on Minnesota Highway 7, Petersen Service Center, Inc. has been a major business in the Cedar Mills area. This opera ng turn key business with personal in place consists of +/ 2.75 acres of land, the elevator head house, storage sheds, grain bins with approximately 300,000 bushel storage, an American dryer, and all associated rolling stock, furniture, and fixtures. The Petersen family has asked us to express their apprecia on to all of their customers and surrounding neighbors. is accep ng wri en bids on this business opportunity. The bids are due by 1:00 PM on Tuesday, March 15, 2016 at the Heller group office in Olivia MN. If you wish to obtain confiden al financial informa on, please fill out the confiden ality agreement and send it back to Heller Group Realty Office. Once you have signed a confiden ally agreement, you can receive 3 years of financial statements, including profit and loss statements, balance sheets, and tax informa on.

Rolling Stock Inventory Petersen Service Center, Inc.

1993 42 Cornhusker Hopper grain trailer w/ air ride Van trailer w/ tandem axle Van trailer on ground (for storage) 1990 Interna onal 4700 single axle bulk feed truck 1987 Interna

Outlet, S/N U11065 Caterpillar Forkli LP Gas, Model #GP 25K, 5,000lb Li mast, show 3,975 hrs.

3 Rolling Stock Inventory Petersen Service Center, Inc Freightliner Semi Tractor Used around the elevator (White) 1996 Freightliner Semi Tractor Current DOT, has OH engine (Blue) Cornhusker Hopper grain trailer w/ air ride Cornhusker Hopper grain trailer w/ air ride Van trailer w/ tandem axle Van trailer on ground (for storage) 1990 Interna onal 4700 single axle bulk feed truck 1987 Interna onal 1754 single axle bulk feed truck 1997 Ford F250 truck with flatbed IH F 1086 Tractor No Cab, 18.4x38 Rear res, 3pt hitch, triple read hyd. Outlet, S/N U11065 Caterpillar Forkli LP Gas, Model #GP 25K, 5,000lb Li mast, show 3,975 hrs. May 24 Gooseneck Trailer 2 axle flatbed trailer with beaver tail and ramps Gooseneck Trailer 2 axle flatbed trailer with beaver tail and ramps Tandem axle trailer w/ 1,000 gallon poly tank used for liquid molasses Rem Grain Vacuator Wes ield (Model MK X ) 13 x 94 grain auger, PTO Drive Wes ield (Model WR ) Grain Auger 10 x 31, with electric motor drive Tebben 84 3pt rotary brush cu er 3pt Blade 2 Fuel barrels w/ electric pump

4 Rolling Stock Inventory Building Site Petersen Service Center, Inc. Tax Informa on: Parcel Number: Tax Classifica on: Non Homestead Comm. Land/Bld Yearly Taxes (per 2015): $3, Grain Opera on: Approx. 300,000 bu. of storage capacity Bins 1 17B located in main building Bins all connected and filled with top U trough. All other bins are filled by an auger. All bins are emp ed by vacuator or augers with bin sweeps American Grain dryer approximately 400 bu/per hour, LP gas with corn holding bin Feed Business: Double roller mill is in main head house building will grind approximately 40T of corn/hour, 3T horizontal mixer is also available for mixing feed ra ons Form A Feed (and other suppliers) animal feed supplements are used in the feed ra ons Both delivered bulk feed and bagged animal feeds are sold along with a variety of pet foods. Records indicate the feed sales have been moderately increasing. No grain or feed inventory included in sale of the real estate and rolling stock. Producers Hybrids Seed Sales Records indicate seed sales have been growing at a steady pace for the past 4 years. Truck Scales: Includes 2 truck scales with combined capacity of 240,000 lbs. (120,000 lbs Each). Electrical Service: Electrical supplier is Meeker County Co op Service entrance is main 3 ph 120/ amps. Electrical service by fuel barrels is a 3 phase service 120/ amps. 2 electrical meters Sewer: Sewer is city Well: Well is 4 steel casing, ½ hp 10 gallon pump with an in well pressure tank, but of unknown depth. Wells in Cedar Mills are approximately 190 in depth (Source: Local area well driller). Drilling year unknown but has been in service for many years. Well also services a private residence in Cedar Mills near subject business.

5 Bidding Procedure & Terms & Condi ons All Prospec ve Bidders must read! Bidding Procedure: 1. Property and Rolling stock are subject to prior sale, correc on or withdrawal. 2. All sealed bids must be received before 1:00 p.m. on Tuesday, March 15, Sealed bids shall be for the total purchase price of both real estate and rolling stock. 4. The top sealed bids will be invited to a live auc on and will have the opportunity to raise their bids. Top bidders will be no fied by of date and loca on. Terms & Condi ons: A 10% nonrefundable earnest money deposit made out to 1 Stop Realty Trust Account is required of the successful bidder at the conclusion of the live auc on por on. Seller will furnish marketable tle at me of closing. The down payment is nonrefundable unless the seller cannot provide clear and marketable tle. Balance will be due at closing. Closing shall be on or before days a er owner s approval. All bids and final sale is subject to the seller s approval or rejec on. Verbal announcements day of the live auc on take precedence over all printed material. All informa on on real estate and rolling stock is from sources deemed reliable, however, the seller or seller s agent offer no guarantees to the descrip ons. Buyer s are required to preform their own due diligence and rely solely on their own findings. Heller Group, 1 Stop Realty s pulates they are represen ng the seller exclusively in this transac on. Return Sealed Bids in person, by mail, or to: 1302 West DePue Ave P.O. Box 26 hellergroup@1stop realty.com

6 SEALED BID FORM Petersen Service Center, Inc. Sealed Bid Auction Deadline: Tuesday, March 15, 2016 at 1:00 p.m. Name: Address: City, State, Zip: Phone: Total Bid Amount*: $ *Total bid amount is for all real estate and rolling stock. I,, have read and agree to all of the terms and conditions of this sale. If my bid is accepted as the successful bid, I will immediately enter into a purchase agreement with 10% earnest money made out to 1 Stop Realty Trust Account at the conclusion of the sale. I have performed my own due diligence on the real estate and rolling stock inventory and rely solely on those findings. Signature:

7 Confidentiality Agreement Name: Address: City, State, Zip: Phone: In consideration for having been provided the below information on the Petersen Service Center, Inc., I hereby agree: 1. Recipient agrees that the confidential information is to be considered confidentiality and proprietary to Owner and Recipient shall hold the same in confidence, shall not use the confidential information other than for the purpose of its business with owner and shall disclose it only to its officers, directors or employees with a specific need to know. Recipient will not disclose, publish or otherwise reveal any of the confidential information received from Owner to any other party. 2. To conduct all further inquiry exclusively through the offices of 3. If a party determines they are not interested in this business opportunity, they shall return all information given by 4. Any information provided will not be used to compete with seller or new owner. Receipt of copy of recent income tax information, Profit & Loss Statement, Balance Sheet, and acceptance of the terms of acknowledgement and agreements is here by acknowledged and confirmed. Company Signature Date

UNRESERVED REAL ESTATE AUCTION

UNRESERVED REAL ESTATE AUCTION For James and Jill Careless 2 Deeded Quarters (Home Quarter includes Home & Buildings) Saturday, October 17, 2015 Real Estate sells at 12:00 PM Held in conjunc on with Westlock